The Ghana Investment Promotion Centre (GIPC) is a government agency established under GIPC Act 865, 2013 to promote, coordinate and facilitate investment in all sectors of the Ghanaian economy.
The functions of the GIPC cover investment advisory services, joint venture search, identification of specific projects for investment promotion, grant of investment incentives and provision of investor support services, registration of technology transfer agreements and negotiation of bilateral investment treaties.
According to section 24 of the GIPC Act, all businesses with foreign participation are required to register with the GIPC.
Steps to Registering your Business at GIPC
1. Business Registration
The first step in starting a business in Ghana is to legally register the business entity at the Registrar General's Department (RGD). With the automation at the Registrar General's Department (RGD), business registration has become fairly easy.
All business registration forms are downloadable at http://rgd.gov.gh/index.php/forms/ or on-sale at GHS 10.00 at the RGD. For a detailed guideline on registering your company in Ghana check;Registering a Business in Ghana
In choosing your business activities during company registration, take note as a foreigner that, the following business activities are reserved for Ghanaians according to the laws of Ghana.
- Sale of goods or provision of services in a market, petty trading or hawking or selling of goods in a stall at any place.
- Operation of taxi or car hire service with less than 25 vehicles
- Operation of a beauty salon or a barber shop
- Printing of recharge scratch cards for the use of subscribers of telecommunication services
- Production of exercise books and other basic stationery
- Retail of finished pharmaceutical products
- Production, supply and retail of sachet water
- Pool betting business and lotteries, except football pool
- Small scale mining (less than 50 acres mining concession)
- Small scale fishing (using small vessels)
The company registration process takes about 2 weeks, after which the following documents will be issued by the Registrar, confirming the legal status of the company.
- Certificate of incorporation
- Certificate of commencement ` `
- Form 3 & 4
- Company regulations
2. Minimum Capital requirement
The investment law of Ghana stipulates minimum foreign equity contribution for all foreigners seeking to do business in Ghana. The minimum foreign equity can be in the form of cash or in-kind (capital goods, equipment, machinery etc.). Below are various categories of minimum capital requirements;
- 100% Foreign owned business – US$ 500,000
- Joint venture with a Ghanaian – US$ 200,000
- Trading enterprises – US$ 1,000,000
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
